26 November 2010

Britain's £260 billion trade deficit with the EU

Responding to a written question from independent Labour peer Lord Stoddart of Swindon, the Director General of the Office of National Statistics has confirmed that in the ten year period 2000-2009, Britain ran up a trade deficit with the EU of over £260 billion. Lord Stoddart commented:

These figures speak for themselves and expose the lie that being in the EU brings Britain trade benefits. These shocking trade figures together with the disastrous performance of the euro, for which we are having to pick the bill, more than ever indicate that it is time for us to pull out of the EU.

Table showing accumulated deficits or surpluses in the United Kingdom's trade with the other European Union countries between 2000 and 2009 in (a) manufactured goods, (b) services, and (c) goods and services [HL4152]